Range bound trading is fading.

Have no bias, and anticipate a fake out.

Timing is everything.

The next image shows how to find the Boogie hump – since these are not waves.

Once you found your hump 2 and hump 4 hooks, you know that you are in the Boogie leg. This is where you close the previous direction and roll into the opposite one.

As you can see, sometimes there is a second peak, mostly for 4-s, but sometimes for 2-s as well, what makes an echo-like peak a suspect is the close proximity in time.

On the way up the 4 would reach lower than the 2 and the opposite goes for the downside.

On the picture above you can say that you are in a hump 3 to the upside since a #4 hasn’t printed yet. You could also say that the market is potentially printing an inverted ABC.

So, let’s talk about another signal for catching a turn: the inverse ABC.

On RSI2, of course.

The inverted ABC (in black) comes from the oversold / overbought area and the C leg would fall short from the RSI starting point of A.

For exit you can utilize the nearest Peak (Oil) or one of the Boogie humps – that may or may not coincide.

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My current range limits are the Ilford Towers.